BCom In Accounting & Finance (BCAF) SEM V 2022 2023 Dec 2023 TAXATION IV Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 All questions are compulsory
2. Q2 All questions carry 15 marks each
3. Q3 Figures to the right indicates Full marks
4. Q4 Use of only simple calculator is allowed
5. Q5 Working notes forms part of your answer
6. Q1 A Fill in the blank with the correct option and rewrite the sentence. (Any8 out of 10) 8 marks
7. Q1 is not subsumed under GST e State VAT e Stamp duty
8. Q2 GST Registration Certificate is issued in GST
9. Q3 Incase of taxable supply of services. Invoice shall be issued within a period of from the date of supply of service
10. Q4 who has obtained or required to obtain more than one registration will be
11. Q5 is levied on Inter-State supplies of goods or services or both
12. Q6 The maximum limit of IGST rate fixed in the Act is
13. Q7 Quorum of GST Council meeting of total no. of members
14. Q8 Threshold limit for Registration under GST for a dealer dealing in goods and services
15. Q9 Place of Supply for services by way of admission to events is e place where event is actually held e place of recipient e place of supplier e place of payment
16. Q10 Mr. A has a turnover of Rs.8, 00,000 in financial year 2021-22. He under GST e can voluntarily register e cannot register e should compulsorily register e should never register Paper Subject Code: 44806 Taxation - IV (Indirect Taxes - IT)
17. Q1 B State whether following are True/False. (Any 7 out of 10) 7 marks
18. Q1 GST is based on the principle of Destination based consumption Tax
19. Q2 Supply of SEZ unit is taxable Supply
20. Q3 The first 2 digits of GSTIN represent country code
21. Q4 Input Tax credit of CGST can be first utilised to pay output liability of SGST
22. Q5 Goods includes money and securities
23. Q6 Goods sent from Mumbai Head office to Gujrat branch is Inter-state supply
24. Q7 Moto spirit is not liable to GST
25. Q8 Registration under GST is compulsory for Casual Taxable Person
26. Q9 Service provided by employee to employer in relation to his employment is not a supply of services
27. Q10 Only Registered person eligible to take input tax credit
28. Q2 A Ms. KB is a registered dealer in the state of Gujrat under GST provides the following information about his business for the month of August 2022. The details about various transactions done in October 2022 are as under: 15 Details of Electronic Credit Ledger are also given: Compute Net Tax Liability of Mr. KB for the month of October 2022 All amounts are exclusive of GST and all conditions necessary for availing Input tax credit have been fulfilled
29. Q2 B Calculate Input Tax Credit admissible to M/s PK Ltd. in respect of the following goods procured by it in the month of November 2022. Give reasons if Input Tax credit is not
30. Q1 Goods purchased but not used for business. 13,330
31. Q2 Inputs used for tests or quality control check. 31,200
32. Q3 Goods given as gifts. 3,000
33. Q4 Paper for photocopying machine used in administrative office. 1,000
34. Q5 Packaging material used in factory. 5,000
35. Q6 Pollution control equipment used in factory. 45,000
36. Q7 Goods used in constructing an additional floor of office building. 30,000
37. Q8 Goods destroyed due to natural calamities 12,500 Paper Subject Code: 44806 Taxation - IV (Indirect Taxes - IT)
38. Q10 Goods purchased on November but not received till date 43,000
39. Q12 Goods used for repairing the office building and cost of such repairs is debited to 50,000 profit and loss account
40. Q3 A) Determine Time of Supply in following independent cases as per the provisions of CGST Act, 8 marks
41. Q3 B) Find out Place of Supply in the following cases: 7 marks
42. Q2 Ms. PU, travels by a Netravati Express (Mumbai — Manglore via Kudal) other than fare charges to plan and organize his wedding at Kolkata registered in Chennai Mr. MM of Pune purchases a ticket for watching a drama in a Ravindra
43. Q7 Mr. Kamlesh came from Punjab to Daman after appointment for beauty Daman. The service is provided in Daman
44. Q3 C) Determine Time of Supply for services in case of normal supply. Sr.no. | Date of Date of entry of Date of Provision | Date of debit Paper Subject Code: 44806 Taxation - IV (Indirect Taxes - IT) 8 marks
45. Q3 D) Mr Angad sold machinery worth Rs 728,000 inclusive of GST @12% to Mr. Avinash. Installation charges of Rs 6,500 was paid separately. A subsidy of Rs 75,000 from Merchant Association and a subsidy of Rs 50,000 from Maharashtra State Government 7 was received. Further, Mr Angad charged Rs 500 for delay in payment by Mr Avinash. Calculate the value of supply as per the provisions of section 15 of CGST Act, 2017
46. Q4 A) MS. DS commences business from the April, 2022 in Nagpur. She is dealing exclusively in goods. She furnishes the following information and want to find out from which month she will be liable for Registration and to pay GST as per the provisions of GST Act. Give reasons April to June 350,000 6,20,000 Compute aggregate Turnover of M/s. OP & Co. supplies goods and services from Chennai. 7 Also advise them whether they should register under GST? Taxable supplies in Tamil Nadu @ 12%. (Exclusive of GST) Taxable supplies in another states @ 12% (inclusive of GST). 13 Exempted Supplies made in Tamil Nadu Exempted Supplies made in other state Supply of agriculture products (Cultivated by family members) 2,50,000 Ms. LN Wellness Centre provided the following information. Compute the Value of taxable 8 goods and services. Also calculate amount of GST assuming rate of GST @18%. All amounts given below are exclusive of GST 2 Receipts against transportation of patients 2,00,000 3 Receipts of Diagnostic Centre 22,00,000 4 Cosmetic surgery for patients met with acid attack 4,00,000 5 Cosmetic surgery to improve looks 6 Surgery charges received for operations of patients met with an 12,00,000 Paper Subject Code: 44806 Taxation - IV (Indirect Taxes - IT) Mr. SL a resident of Meghalaya (a special category state) provides you the following information regarding supplies made by him. Determine his Eligibility for 7 registration under relevant Goods and Service Tax Law 1 Inward supply of goods from Delhi on which tax is payable under reverse 2,10,000 2 Outward Intra — State supply of Goods wholly exempt under GST 1,65,000 3 Outward Intra — State supply of services exempt under GST 4 Outward Intra-State supply of Goods Taxable @ 18% (Exclusive of GST) 30,000 5 Outward Supply of exempt services within state 5,10,000 6 Outward Intra — State Services Taxable @12% (Exclusive of GST) 3,00,000 8 marks
47. Q5 A) Explain the procedure of Registration under GST. 8 marks
48. Q5 B) Explain the concepts Composite and Mixed Supply with examples. 7 marks
49. Q5 Write Short Notes (Any 3 out of 5) 15 marks
    • a) Compulsory Registration under GST
    • b) Delivery Challan
    • c) Composite scheme
    • d) Place of Business
    • e) Reverse Charge

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